Sales and Use Tax Audits in 2021: How to Prepare your Business
Prepare your business for sales and use tax audits in 2021
As cash-strapped states seek to recover revenue losses due to the COVID-19 pandemic, more businesses may be at risk of burdensome and costly sales and use tax audits in 2021, and the best way to weather a sales and use tax audit is to be prepared. Our partner Avalara has a new guidebook to help you do just that. Learn about the top audit triggers, why current economic conditions may increase the likelihood of an audit, and what you might expect during an audit. You’ll also find strategies for laying a strong, audit-ready foundation so that if and when an auditor comes knocking, your business is good to go.
Unfortunately, many businesses are ill-prepared to handle an audit. This guidebook will help you understand your typical risks and what to expect during an audit. You’ll also find strategies that may reduce the likelihood of a negative audit, make the process smoother should the auditor pay you a visit, and ultimately save your company money.
Some key topics covered include:
- Which industries are most likely to be audited
- The most common reasons for an audit
- What to expect (and avoid) during an audit
- Tactics to reduce your risks and help in the event you are audited
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